Uaru Field Concept Selection Process Review, Guyana

This Concept Selection Process Review considered these elements:

1. The design philosophy strategy and development models, as well as the criteria utilised in the Licensee’s choices including cost effectiveness. potential tie-ins, and production licensing philosophy;
2. The scenarios for development and analysis of geophysical and geological models, their volumetrics and associated uncertainties.
3. The well and reservoir management and depletion strategies under consideration;
4. The proposed FPSO design and topside facilities considering the GoG’s objective of ‘no routine flaring’;
5. Modifications made to previously used facilities design and the Licensee’s justification for these;
6. Financial modelling and calculation of net present values including verification of reserves included in the development;
7. The proposed project cost estimates economic analyses, cost savings and overall implications for the cost bank;
8. The risk management strategy for the risks identified in each development scenario;
9. The incorporation of lessons learnt from previous CSP Reviews and associated studies implemented by the Licensee;
10. How the development scenarios can incorporate climate solutions;
11. A review of relevant documentation.